New Delhi. Panasonic Energy India Co. Ltd. (PECIN) a part of Panasonic Holdings Corporation today announced its financial results for the quarter ending September 30, 2024. In the Q2 FY2024-25, the company recorded a modest increase in revenue from operations to INR 686.4 million, a 0.42% year-over-year rise compared to INR 683.5 million in Q2 FY2023-24. Despite the modest revenue growth, the company’s profit after tax (PAT) witnessed growth, rising 17.39% to INR 38.81 million. The company posted a growth of 12.72% on EBITDA margins signifying a strong balance sheet with a market cap of INR 3667.13 million.
For the first half (H1 FY2024-25), PECIN demonstrated strong profit growth despite a 9.33% decline in revenue from operations, which totaled INR 1,316 million. The dip in revenue was primarily due to additional sale to the Election Commission in the first half of FY2023-24, which contributed approximately 11.4% to that period's revenue. Excluding the impact of this one-time sale, however, the company achieved a 2% increase in overall sales in H1 FY2024-25, underscoring a strong underlying demand. The PAT for the first half of the current fiscal yearreported a robust growth of 35%, increasing to INR 81.82million from INR 60.52 millionlast year.
While announcing the results, Mr. Akinori Isomura, Chairman and Managing Director Panasonic Energy India Co. Ltd. (PECIN)said, “The strong profitability underscores our commitment to operational excellence and adaptability in dynamic market conditions. Driven by the company’s strategic focus on cost optimization, especially in materials amiddeclining zinc prices, we remain focused on enhancing stakeholder value and building momentum for sustained growth in the quarters ahead.
He added,
“We have several strategic initiatives underway to support our growth
trajectory. These include expanding our reach in the rapidly growing rural
markets, capturing our market share in high-potential areas, enhancing brand
recognition, and increasing the share of premium products in our sales mix.
With these, we are confident to further solidify our performance and market
competitiveness.
dharmendra.bhaskar@mslgroup.com
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